MADRID, Nov 19 (Reuters) - The Spanish stock market regulator CNMV suspended the trading of shares of media firm PRISA on Thursday morning after media reported investors led by businessman Blas Herrero are planning an offer to buy its media assets.
The regulator said in a filing that it suspended Prisa’s shares “due to circumstances that could disturb the orderly course of transactions”, without giving any details.
According to El Confidencial news website and Expansion newspaper, Blas Herrero, who owns radio station Kiss FM, and unidentified Spanish partners, are planning to offer more than 200 million euros ($236.44 million) in cash to buy Prisa’s newspapers and radio stations, which include the country’s most influential newspaper El Pais.
Prisa, which has a market value of 510 million euros, also owns Cadena Ser radio station and Cinco Dias financial newspaper.
Prisa shares had closed at 0.719 euros on Wednesday.
A Prisa spokesman declined to comment, while Herrero was not immediately available for comment. ($1 = 0.8459 euros) (Reporting by Emma Pinedo, Belen Carreno and Jose Elias Rodriguez, Editing by Inti Landauro and Kim Coghill)